Early bitcoin investment for my baby - page 2.

deathcode

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Quote from: Farma on March 19, 2023, 09:07:08 AM

Quote from: GreatArkansas on March 18, 2023, 04:39:27 AM

Quote from: uneng on March 14, 2023, 01:37:59 PM

Since your goal is to hold thinking on long term results (18 years from now), you should think about storing your coins safely on your own hands. That is, to not rely on any third party online platforms to keep your coins stored. You need a hardware wallet and to control your own keys.
(...)

I'm curious how the OP stored the Bitcoin they bought for the baby, they created a paper wallet? Bought a hardware wallet or any software Bitcoin wallet? It would be more amazing for OP to share how they manage to store the Bitcoin so just in case in the future, other will follow it too.
Just like me, I am planning to do it in the future for my children. Since I saw a lot of people having life insurance to their children while at very young age, so for me, I will do like what OP did.

i just wish that the OP was using Hard Wallet. Because the main problem in the long-term storage for years from a crypto asset is where it is stored. some of the cases that I have seen, many people hold their assets in several wallets, but some hackers are able to access the assets they have. I've even experienced this myself. Anyway, I don't expect him to use CEX to store his assets. I think that way because many lay people think that CEX is a safe and reliable place to hold assets long term.

I also hope that OP's plan is really mature to realize the investment for his baby by thinking about where he will store his Bitcoin assets.
Storing our Bitcoin assets or crypto assets in a secure wallet is very important, what you suggest to the OP is that it is true that it is safer to store Bitcoin purchases for their children in a Hard Wallet for maximum security.
Moreover, this asset will be passed on to the baby, so it must really be maximized in terms of storage security because it takes a long time, of course, to be handed over to the baby when he is old enough.
If OP keep it on a hot wallet, in my opinion, it's not wise, especially if OP only store it on an exchange, it can be bad. I hope OP avoids keeping it on exchange.
But we know Hard Wallet isn't cheap at all, especially since OP is still in a condition where he has to meet the many needs of his baby. So maybe besides OP having to set aside some money to invest for the baby, OP also has to set aside to buy a Hard Wallet.

MusaPk

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Quote from: ringgo96 on March 19, 2023, 08:55:42 AM

This is a very good idea for you to live, because the money you get can invest for the baby you give birth to in the future, and I am sure that with a long enough time then the baby you give birth to today will become a sultan at a young age, so I am very supportive of the decision you make because everyone will want to make a surprise for their child when they become teenagers or Already an adult, and most importantly you have to pass on knowledge about the crypto world to your child later.

First of all, congrats to OP for the baby and second appreciation for the mother for investing in the right direction for the future of newborn. If you are investing in bitcoin, then invest for long term, not for a week or a month since that won't give you a big return. The OP is investing 50$ initially, and it will be good if she can put 10$ or more (based on her budget) every month into bitcoin. Since the DCA strategy will surely work.

fuguebtc

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Quote from: Farma on March 19, 2023, 09:07:08 AM

Quote from: GreatArkansas on March 18, 2023, 04:39:27 AM

Quote from: uneng on March 14, 2023, 01:37:59 PM

Since your goal is to hold thinking on long term results (18 years from now), you should think about storing your coins safely on your own hands. That is, to not rely on any third party online platforms to keep your coins stored. You need a hardware wallet and to control your own keys.
(...)

I'm curious how the OP stored the Bitcoin they bought for the baby, they created a paper wallet? Bought a hardware wallet or any software Bitcoin wallet? It would be more amazing for OP to share how they manage to store the Bitcoin so just in case in the future, other will follow it too.
Just like me, I am planning to do it in the future for my children. Since I saw a lot of people having life insurance to their children while at very young age, so for me, I will do like what OP did.

i just wish that the OP was using Hard Wallet. Because the main problem in the long-term storage for years from a crypto asset is where it is stored. some of the cases that I have seen, many people hold their assets in several wallets, but some hackers are able to access the assets they have. I've even experienced this myself. Anyway, I don't expect him to use CEX to store his assets. I think that way because many lay people think that CEX is a safe and reliable place to hold assets long term.

Indeed, although owning a hardware wallet will cost a bit of money, once we are determined to hold it for a long time, a wallet is indispensable. If we waste our money and store our bitcoins on a centralized exchange or hot wallet with a frequent internet connection, there is a good chance that one day we will regret our decision not to buy a hardware wallet. I don't know how much bitcoin the OP intends to accumulate for his children, but for such a long time, even with that $50 capital, it would be a huge amount after 18 years and for sure is going to be larger than the purchase of a hardware wallet.

Farma

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Quote from: GreatArkansas on March 18, 2023, 04:39:27 AM

Quote from: uneng on March 14, 2023, 01:37:59 PM

Since your goal is to hold thinking on long term results (18 years from now), you should think about storing your coins safely on your own hands. That is, to not rely on any third party online platforms to keep your coins stored. You need a hardware wallet and to control your own keys.
(...)

I'm curious how the OP stored the Bitcoin they bought for the baby, they created a paper wallet? Bought a hardware wallet or any software Bitcoin wallet? It would be more amazing for OP to share how they manage to store the Bitcoin so just in case in the future, other will follow it too.
Just like me, I am planning to do it in the future for my children. Since I saw a lot of people having life insurance to their children while at very young age, so for me, I will do like what OP did.

i just wish that the OP was using Hard Wallet. Because the main problem in the long-term storage for years from a crypto asset is where it is stored. some of the cases that I have seen, many people hold their assets in several wallets, but some hackers are able to access the assets they have. I've even experienced this myself. Anyway, I don't expect him to use CEX to store his assets. I think that way because many lay people think that CEX is a safe and reliable place to hold assets long term.

ringgo96

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This is a very good idea for you to live, because the money you get can invest for the baby you give birth to in the future, and I am sure that with a long enough time then the baby you give birth to today will become a sultan at a young age, so I am very supportive of the decision you make because everyone will want to make a surprise for their child when they become teenagers or Already an adult, and most importantly you have to pass on knowledge about the crypto world to your child later.

_musab-scorpion_

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It’s very good decision to invest in crypto for your baby and forget this for 18 years . He would be very happy when he came to know about this investment I’m damn sure. But it is inappropriate to show your baby pictures in general forum like this…please keep it in your own personal space

Patrol69

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Quote from: Victorybit1 on March 14, 2023, 09:22:57 AM

Few days back, I came across a post encouraging people to use the money well wishers gives to newly born babies and mothers as a gift to invest in bitcoin for the baby, then I was pregnant, just delivered 3rd of march. My baby and I has made up to $50 if converted just 10days after giving birth. I am definitely going to use the money to invest in bitcoin this year for my baby so that in the next 18 years my baby will be proud of the decision I took for him.

Every parent takes different steps at different places thinking about their child's future but yours seems a little different to me. Everyone else deposits money in various banks for their child's future but you are thinking about your child's future and investing in Bitcoin for your child is undoubtedly the best initiative of yours. Hopefully you will increase the amount of investment as your child grows up and at some point you will see that you get a lot of profit from the amount you invested I welcome your decision

Quote from: Victorybit1 on March 14, 2023, 09:22:57 AM

Im so glad I discovered this platform this year, I believe I am going to achieve a lot from this forum

Below are lovely pictures of my cutie, my bundle of joy.🥰

https://i.imgur.com/aILveaK.jpeg

https://i.imgur.com/hC9kWoy.jpeg

Of course the investment you have made and the platform you have found is undoubtedly one of the best and you will get more than what you expect from this platform. May God bless your child's future.

Car22

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It is a good idea to hold your bitcoin worth for your baby .

Finestream

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Quote from: salad daging on March 14, 2023, 09:45:03 AM

Even though you are already happy about the birth of your child, I think it is not necessary to display a photo of your baby in full because this is a public space for fear that the photo will be misused by irresponsible people.

I think it's great that you are so confident about investing in bitcoin for your child's future, but you have to think about the risks and other kinds of hurdles however normally the need for a baby is very great unless you can cover that need from other income and when it grows up.

Right. It’s never bad to post whatever that makes you happy, but exposing your innocent baby’s face in a social media, that might catch the attention of bad people and use your baby’s picture for their own advantage. That’s why it’s still best to live your life in private without updating other people about your life events or family’s events. However, your idea is great and you have a very positive outlook for his future. But always know that bitcoin investing takes some risks and that you have to manage the risk so you will be successful in the end. I advise you to never take this more seriously, but just invest whenever you have extra money to spare. Bitcoin is still uncertain in the next year or decade, so you don’t have to expect much on it. Just invest a little and forget, that way you will never have to think of it most often.

Inwestour

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Quote from: GreatArkansas on March 18, 2023, 04:39:27 AM

I'm curious how the OP stored the Bitcoin they bought for the baby, they created a paper wallet? Bought a hardware wallet or any software Bitcoin wallet? It would be more amazing for OP to share how they manage to store the Bitcoin so just in case in the future, other will follow it too.
Just like me, I am planning to do it in the future for my children. Since I saw a lot of people having life insurance to their children while at very young age, so for me, I will do like what OP did.

It seems to me that it is better to create and control investments personally, and then leave this capital to your child as an inheritance. But before that, it is important to teach him how to make savings himself in order to create at least a small capital for investments, and teach him how to safely store investments. That he could repeat all the steps himself, albeit on a smaller scale. After that, I will know that he will be able to do everything right when he receives an inheritance and will multiply it.

Ayers

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Quote from: Distinctin on March 18, 2023, 03:09:29 AM

Quote from: Plaguedeath on March 14, 2023, 10:46:50 AM

Although I can't predict the next 18 years later, but just don't put a lot hope if the Bitcoin price now and the next 18 years would be really so difference where at the first time Bitcoin is only worth for less than cent and now it's already $25K. Bitcoin price might touch $1 after the next 18 years because anything is possible, it's also possible the price will be sky rocketed, but I not really think the ROI is really so huge.

Thinking how volatile and unpredictable bitcoin is, it’s good to invest but never hold guarantees that bitcoin will definitely boom in the next 18 years, you will only be frustrated if you put high hopes on that. Just invest with your spare money, money that are not intended to supply the needs of your baby. While your idea is great, but always invest at your own risk. Bitcoin will never have a fixed value, so always be open that the price could go up pumping or might drop its value and face a sharp decline.

There's nothing wrong with investing in bitcoin and setting expectations on it, but you're right, don't be too subjective and put all your hopes on it. Bitcoin is still a volatile and risky asset, so when investing, in addition to thinking about profit, we should also consider the case that bitcoin will disappear in the future.

I'm not opposed to accumulating bitcoin for our children, but like investing, I think we should diversify our savings rather than focus on a single asset. Savings can include many other assets like bitcoin, gold, or stocks… we have the right to diversify, no one forces us to focus on just 1.

AirDropMcHunter

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What a nice post, big congrats on your little sweetheart. And yeah that's an awesome idea, $50 worth of bitcoin today will indeed be worth a ton of money in 18 years. I wonder how it feel like for him to find this thread after 18 years.

GreatArkansas

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Quote from: uneng on March 14, 2023, 01:37:59 PM

Since your goal is to hold thinking on long term results (18 years from now), you should think about storing your coins safely on your own hands. That is, to not rely on any third party online platforms to keep your coins stored. You need a hardware wallet and to control your own keys.
(...)

I'm curious how the OP stored the Bitcoin they bought for the baby, they created a paper wallet? Bought a hardware wallet or any software Bitcoin wallet? It would be more amazing for OP to share how they manage to store the Bitcoin so just in case in the future, other will follow it too.
Just like me, I am planning to do it in the future for my children. Since I saw a lot of people having life insurance to their children while at very young age, so for me, I will do like what OP did.

Asuspawer09

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Quote from: Victorybit1 on March 14, 2023, 09:22:57 AM

Few days back, I came across a post encouraging people to use the money well wishers gives to newly born babies and mothers as a gift to invest in bitcoin for the baby, then I was pregnant, just delivered 3rd of march. My baby and I has made up to $50 if converted just 10days after giving birth. I am definitely going to use the money to invest in bitcoin this year for my baby so that in the next 18 years my baby will be proud of the decision I took for him.

Im so glad I discovered this platform this year, I believe I am going to achieve a lot from this forum

Below are lovely pictures of my cutie, my bundle of joy.🥰

https://i.imgur.com/aILveaK.jpeg

https://i.imgur.com/hC9kWoy.jpeg

I don't know if it's going to go well in the future plus investing is not easy to do especially when you're always watching the market, but I guess if you're just going to forget about your bitcoin and maybe just put it in a secure wallet then look at it after a few years I think it might work since it doesn't really get a lot of your time and you didn't really pay so much attention on it.

It's great to make a bank or funds for your child in his or her early days so that you will have funds in the future for your baby. But its always a bet and you don't really know if your investment is going to earn some profit on years of investment so if the baby really need something mind just used those funds to buy what the baby need instead of putting it on investment.

Distinctin

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Quote from: Plaguedeath on March 14, 2023, 10:46:50 AM

Although I can't predict the next 18 years later, but just don't put a lot hope if the Bitcoin price now and the next 18 years would be really so difference where at the first time Bitcoin is only worth for less than cent and now it's already $25K. Bitcoin price might touch $1 after the next 18 years because anything is possible, it's also possible the price will be sky rocketed, but I not really think the ROI is really so huge.

Thinking how volatile and unpredictable bitcoin is, it’s good to invest but never hold guarantees that bitcoin will definitely boom in the next 18 years, you will only be frustrated if you put high hopes on that. Just invest with your spare money, money that are not intended to supply the needs of your baby. While your idea is great, but always invest at your own risk. Bitcoin will never have a fixed value, so always be open that the price could go up pumping or might drop its value and face a sharp decline.

mich

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Very happy for you to to enjoy fatherhood with your newborn. I was never close to my father so enjoy these early memories you have with your baby. Make it a lifelong bond and remember he is a little blessing for everyone.

Giving your newborn Bitcoin is the nicest thing you can do. It is better then giving them just fiat in a bank account or bonds or gold. In only a few years his Bitcoin will be profitable and he will appreciate you when he becomes older. You are how every father should be for their kids.

Yatsan

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Instead of requiring them to do so, wishgivers could give you fiat if they want to so and you'd simply put in into bitcoin investment. It is the same with them paying through this technology.

Quote from: coupable on March 17, 2023, 05:56:28 PM

Quote from: dunfida on March 16, 2023, 06:54:49 PM

Quote from: coupable on March 16, 2023, 03:36:08 PM

Quote from: worle1bm on March 15, 2023, 02:48:23 AM

First of all congratulations to you for having the most beautiful gift in your life and can feel how much happy you must be at this time.It is really good thought to save for your children at an early age so they have something with them when they grow up to aid them financially.We give them lot of gifts but these things are on which we should focus more along with the gifts.By the time he will be 18 the btc will surely be in very profitable stage if everything goes in favour as can't say anything with surety but yes it's right decision you have made as a parent.

This can be considered a kind of investment that parents adopt and not an investment that their children will adopt at a later time. In my opinion, it is good to adopt this type of investment in order for our children to benefit from it when they grow up, but this is not guaranteed that the children will benefit directly from it, as they may not be enthusiastic about this type of investment or any other type. And since the parents are the ones who will keep the private keys, they will be able to change their minds if the opposite is proven.

This is why on the time that your child is on the right age then it would really be just right that you should really tell them about crypto.This should really be told on the proper time on which his mind
is already that prepared on accepting on things which are the current trend as of this moment or into those future years to come.Just like the rest been saying that this investment would really be
that useless if your child would really be selling those coins on the time that they do able to held those.This is why self awareness and learning do plays a crucial part on this one
on how it would be ended up.

This means that the investment is made by parents in a kind of bet that this investment will benefit their children and that their children will not underestimate the issue and will consider it their own investment. In a simpler sense, this may be a type of investment that will be offered to parents to engage in.

Every investment is a bet or gamble. And every investment is ofcourse ideally to benefit the certain individual in long run. But given that it is investment we are talking about, no certainty is there and this is a given idea in this technology as well as with other investment industries. I actually see this as a normal way to invest except for the idea that the babu is used in such way.

LogitechMouse

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Quote from: Victorybit1 on March 14, 2023, 11:43:21 AM

Quote from: Bananington on March 14, 2023, 09:48:54 AM

Quote from: Victorybit1 on March 14, 2023, 09:22:57 AM

Few days back, I came across a post encouraging people to use the money well wishers gives to newly born babies and mothers as a gift to invest in bitcoin for the baby, then I was pregnant, just delivered 3rd of march. My baby and I has made up to $50 if converted just 10days after giving birth. I am definitely going to use the money to invest in bitcoin this year for my baby so that in the next 18 years my baby will be proud of the decision I took for hi

Will you really be able to Hold the bitcoins for your baby till he/she becomes older? 18years is a long time and a lot of things can happen in that time. If you want to invest in bitcoins for your child, you need to be invest a huge amount and not crumb by crumb. Also before you child come of age, you have to ensure that you have done the part of educating him or her well about what bitcoin really is, so that at the end when you hand them ownership of the bitcoins you have been keeping for them, they will actually know the value and not waste it.

commercial banks encourage people to save for their children until they are of age to handle the account why can't we do same for bitcoin. This is not a bad idea if I must say.

The risk between putting your money in a bank and putting all of your money in Bitcoin is very different.
The risk is higher when you put your money into Bitcoin as it's very volatile however, if you can handle the price movement of it, and you're still ok even though you see your holdings down ~50%-80% if it happens then there's nothing wrong with it, and you can just simply put your money into Bitcoin, and don't put it into banks.

Commercial banks encourages people to save money for their children for their own sake. They wanted you to save your money in their banks so that they can loan it out 10x to other people. Fractional reserve banking. Who will be the ones who will benefit from it? Only banks and you as a depositor? You will not because the interest is very low knowing how high inflation is.

Anyway, congrats to your baby, and you're Bitcoin investment for the future of your baby. I don't have a baby ATM, but I already set aside a specific amount of Bitcoin just for him/her.

Too early I guess.

Mr.right85

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Quote from: salad daging on March 14, 2023, 09:45:03 AM

Even though you are already happy about the birth of your child, I think it is not necessary to display a photo of your baby in full because this is a public space for fear that the photo will be misused by irresponsible people.

You know, your advice on not disclosing the baby's imagery got me curious and I had to go the length of inserting the necessary codes to the provided link and it appears OP already took to your advice. That's evident of some good learning on the part of OP and that's great.
I might say, he's just a baby an facial looks in 18years would be very unrecognisable from what it is now which makes the need for privacy in his case overrated but, what do I know.
Don't want to over think it but, other reasons might as well prove it useful to maintain privacy.

Quote from: salad daging on March 14, 2023, 09:45:03 AM

I think it's great that you are so confident about investing in bitcoin for your child's future, but you have to think about the risks and other kinds of hurdles however normally the need for a baby is very great unless you can cover that need from other income and when it grows up.

That's definitely something worth doing and parents should be doing. Other than picking some fixed deposit in on there kids, some Bitcoin investment might be useful and would be worth more in 18years.
Best way to keep yourself from it, view it as not yours because, it literally isn't and never try to borrow from it for any reason as it constitutes your child's future at OP.

The Cryptovator

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Nice decision. I can't recall the thread but I have read it as well. I haven't done something like this yet, because everything is for my baby whatever I am earning. I am holding a decent cryptocurrency, so they can spend from there. Because I don't intend to sell them right now and even if I sell, I will keep some for the future. Not gonna make my wallet empty anyway. But for those who can't afford to accumulate a big amount of cryptocurrency then better to make savings and invest in crypto. It would be for your baby or for your future.

Topic: Early bitcoin investment for my baby - page 2. (Read 837 times)